Experiments in behavioral finance are conducted by duplicating or simulating market settings to observe the decision-making behavior of the investor. Based on such experiments, researchers across the countries could answer many questions, which was not possible using conventional methods of data analysis and surveys. Revealed preferences in experiments may give better insight than the stated preferences in surveys. Despite its various advantages, the acceptance of experimental design methodology is not universal. This paper examines the perception of Indian academicians and researchers on the significance of experiment as a research method, the relevance of experiments in financial research and the practicability of conducting finance experiments in the Indian context. This study empirically establishes the academic conviction that experimental research is an effective method. The results also confirm the belief that experiments are very useful in financial research, particularly to understand the behavioral aspects. However, given the market environment in India, researchers are skeptical about conducting finance experiments in India.

Beginning in the mid-1990s, there was a resurgence of experimental research, addressing a broader spectrum of issues in finance. Experimental researchers argue that individual behavior is an important element in determining market behavior in the presence of competitive forces. Despite its various advantages, the appreciation of experimental design methodology is not universal. This paper attempts to investigate the perceptions of Indian academicians and researchers on the significance of experiment as a research method, the relevance of experiments in financial research and the practicability of conducting finance experiments in the Indian context.